8-KOther EventsExhibits & Filings

PEPSICO INC 8-K Report, Corporate Update (Oct 22, 2014)

Filed October 22, 2014For Securities:PEP

Summary

PepsiCo, Inc. (PEP) filed an 8-K on October 21, 2014, to report on the offering of its Senior Notes. The company announced the issuance of $500 million in aggregate principal amount of 4.250% Senior Notes due 2044, priced at 99.865% of their principal amount. Following underwriting discounts and expenses, PepsiCo received net proceeds of approximately $495 million. These proceeds are designated for general corporate purposes, including the repayment of commercial paper. This offering was conducted under PepsiCo's existing shelf registration statement and involved a prospectus supplement filed on October 17, 2014. The notes were issued on October 22, 2014, bearing a fixed interest rate of 4.250% and maturing in 2044. The notes are unsecured and rank equally with other senior unsecured indebtedness of PepsiCo.

Key Highlights

  • 1PepsiCo issued $500 million in 4.250% Senior Notes due October 22, 2044.
  • 2Net proceeds from the offering amounted to approximately $495 million.
  • 3The proceeds will be used for general corporate purposes, including repaying commercial paper.
  • 4The offering was made under PepsiCo's existing shelf registration statement on Form S-3.
  • 5The notes bear a fixed interest rate of 4.250% per annum, with semi-annual interest payments.
  • 6PepsiCo retains the option to redeem the notes under specific conditions prior to maturity.
  • 7The notes are unsecured and rank pari passu with other senior unsecured indebtedness.

Frequently Asked Questions

This 8-K filing announces PepsiCo's offering of $500 million in Senior Notes due 2044, detailing the terms of the offering, the principal amount, interest rate, maturity date, and the intended use of the net proceeds.

PepsiCo raised $500 million in aggregate principal amount of Senior Notes. After deducting underwriting discounts and estimated offering expenses, the company received net proceeds of approximately $495 million.

The net proceeds from the offering are intended for general corporate purposes, which include the repayment of outstanding commercial paper.

The notes carry a fixed interest rate of 4.250% per year, payable semi-annually on April 22 and October 22, starting in April 2015. They mature on October 22, 2044. The notes are unsecured and rank equally with PepsiCo's other senior unsecured debt. PepsiCo has the ability to redeem the notes prior to maturity under certain conditions.